Heidelberg Initiates Further Reorganization; Announces Financial Targets, Site Consolidation

Target result for financial year 2013/2014 achieved with net profit of € 4 million
Although factors such as exchange rate movements resulted in a decline in Group sales from the previous year's figure of € 2.735 billion to € 2.434 billion (€ 2.536 billion after adjustment for exchange rate movements) in reporting year 2013/2014, all result-related KPIs were far better than in the previous financial year. For example, EBITDA excluding special items rose to € 143 million in the financial year just closed (previous year: € 80 million). This led to an improvement in the EBITDA margin from about 3 percent to approx. 6 percent. Within twelve months, the result of operating activities (EBIT) excluding special items climbed from € -3 million in the previous year to € 72 million. Special items in the reporting period amounted to € -10 million (previous year: € -65 million) and the financial result was € -60 million (previous year: € -59 million). This led to a net profit for the year of € 4 million (previous year: € -117 million).